“There are 8,900,000 households in Australia, 97.4% of those households deal with a big bank. So, we hate the big…
Written by Katherine Sadler Published: April 24 2019 General
David Koch, finance expert, joins Cashwerkz as guest presenter of our video series, “Make Your Cash Werk”. In Episode 3, Kochie looks at ‘Cash Drag’ and the affect it has on Australian investors. Cash Drag occurs when money is allowed to sit idle without earning a return, for example money left in low interest rate bank accounts or trading accounts. If your money isn’t working for you, it’s going backwards. Inflation erodes the value of money, and reduces the purchasing power of money left idle without earning a return.
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